What is Per Month Two Year and Full Price?

I'm saving up for an iPhone 6 so can someone tell me what the two year contract and the full price mean? I already know what a per month is (obviously)

IPhone 6 should be around $350 per 2 year contract, and full price of the phone is around $850

2-year contract is pay per month for 24 months which you know already. IPhone 6 starts from $199 with this contract.

Full price means you're either buying the phone without contract or unlocked and they start from $649 for the iPhone 6.

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